Online Poker 2006 = Daytrading Stocks 1999

[Mathemagician]

The day I started playing online poker I knew it was a fad, a bubble, a mania, or whatever you want to call it. All the signs were there. People in the coffee shop playing poker on their laptops, cab drivers discussing poker with their passengers, tv shows dedicated to poker popping up all over the place, etc. All talking about how EASY it was. Just like the people who quit their real jobs to make easy money daytrading stocks in 1999 only to go busto in 2000, so many online pros are now forced to face the reality that their 'livelihood' was just a passing opportunity based on the "greater fool" theory. Now, the greater fools are getting harder to find and they will soon long for the security of their "real jobs".

The wise players who didn't frivolously spend what they earned have the ability to analyze this new reality objectively. They are able to see the situation for what it is, are grateful for having had the opportunity to improve their financial situation, and have banked the time( = money) to adjust. Those who did spend will panic, clinging to the hope that if they keep playing they'll make what they used to in the heyday, maybe if they play more hours, or more tables, or higher stakes... They'll fight the new reality violently, and attack anyone who dares even mention it in their presence. Many will make themselves heard in this very topic.

For my part, I was happy to have fun and make a few thousand bucks on the side, investing them in my real business (commodities trading). The writing was on the wall in September, and now it's just a matter of time before it becomes apparent to all.

I predict that WSOP entries will decline for the next several years, as will viewership, until it is a fringe event on ESPN 8 (on the same footing as professional Scrabble).

I do sincerely want to thank you all here at 2+2 for a great ride. I had a blast while learning a lot about the game of poker, human nature, and not least of all myself. Unfortunately, this "trade" is over, except for the inevitable flaming I'll receive (which won't bother me one bit). In the meantime, sorry if this sounds like a rant.

Welcome to NASDAQ 2000 all over again. See you again when the next 1999 rolls around!

M

[TheJokerIsWild]

k bye.

[SlapPappy]

I'm very sorry I read this post.

[SixT4]

Lol.

[SirArthur]

Seems like you took advantage of this huge poker boom mania you describe, as you profited a FEW THOUSAND in a couple years time!!
Congratulations on that score.

And oh ya, good bye.
Who are you again?

[Mathemagician]

Oh, and I pay my taxes. If you think the IRS isn't going to follow up on the DOJ's actions, you're deluding yourselves.

M

[jaminbird]

You are such a douchebag.

[Gotmilk]

[ QUOTE ]
The day I started playing online poker I knew it was a fad, a bubble, a mania, or whatever you want to call it. All the signs were there. People in the coffee shop playing poker on their laptops, cab drivers discussing poker with their passengers, tv shows dedicated to poker popping up all over the place, etc. All talking about how EASY it was. Just like the people who quit their real jobs to make easy money daytrading stocks in 1999 only to go busto in 2000, so many online pros are now forced to face the reality that their 'livelihood' was just a passing opportunity based on the "greater fool" theory. Now, the greater fools are getting harder to find and they will soon long for the security of their "real jobs".

The wise players who didn't frivolously spend what they earned have the ability to analyze this new reality objectively. They are able to see the situation for what it is, are grateful for having had the opportunity to improve their financial situation, and have banked the time( = money) to adjust. Those who did spend will panic, clinging to the hope that if they keep playing they'll make what they used to in the heyday, maybe if they play more hours, or more tables, or higher stakes... They'll fight the new reality violently, and attack anyone who dares even mention it in their presence. Many will make themselves heard in this very topic.

For my part, I was happy to have fun and make a few thousand bucks on the side, investing them in my real business (commodities trading). The writing was on the wall in September, and now it's just a matter of time before it becomes apparent to all.

I predict that WSOP entries will decline for the next several years, as will viewership, until it is a fringe event on ESPN 8 (on the same footing as professional Scrabble).

I do sincerely want to thank you all here at 2+2 for a great ride. I had a blast while learning a lot about the game of poker, human nature, and not least of all myself. Unfortunately, this "trade" is over, except for the inevitable flaming I'll receive (which won't bother me one bit). In the meantime, sorry if this sounds like a rant.

Welcome to NASDAQ 2000 all over again. See you again when the next 1999 rolls around!

M

[/ QUOTE ]

FWIW,i agree 100%.

[excession]

LOL yet another 'America = the world' post.

It doesn't. Online poker has never been so good outside the US and it's only going to get better..

[meleader2]

[ QUOTE ]
LOL yet another 'America = the world' post.

It doesn't. Online poker has never been so good outside the US and it's only going to get better..

[/ QUOTE ]


GOOD MORNING ASIA!